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Finance Act 1963

Status:

This is the original version (as it was originally enacted).

  1. Introductory Text

  2. Part I Customs and Excise

    1. 1.Amendments as to surcharges and rebates in respect of revenue duties

    2. 2.Information as to gaming

    3. 3.Further reductions of customs duties on E.F.T.A. goods

    4. 4.Matches

    5. 5.Repeal of television duty

    6. 6.Brewers not for sale

    7. 7.Tobacco dealers

    8. 8.Amendments as to samples of hydrocarbon oils

    9. 9.Pipe-lines

  3. Part II Income Tax

    1. Chapter I Rates of Tax, and Changes in Personal Reliefs

      1. 10.Charge of income tax for 1963-64

      2. 11.Surtax rates for 1962-63

      3. 12.Amendments to Part VIII of Act of 1952 (personal etc reliefs)

      4. 13.Child relief: amendments as to child's income

    2. Chapter II Abolition of Charge on Owner-Occupiers, Taxation of Rents and Connected Provisions

      1. Abolition of Schedule A tax, and taxation of rents, etc.

        1. 14.Abolition of charge on owner-occupiers

        2. 15.Charge to income tax of profits and gains arising from land

        3. 16.Assessment and collection of tax under Case VIII

        4. 17.Relief for rent, etc. not paid

        5. 18.Returns, etc. for purposes of Case VIII

        6. 19.Provisions as to repayments

        7. 20.Transitional provisions for Schedule A tax for 1963-64

        8. 21.Cost of maintenance, repairs, insurance and management for 1963-64

      2. Provisions as to premiums, etc.

        1. 22.Treatment of premiums, etc. as rent

        2. 23.Charge on assignment of lease granted at undervalue

        3. 24.Charge on sale of land with right to reconveyance

        4. 25.Provisions supplemental to ss. 22 to 24

      3. Miscellaneous

        1. 26.Mines, quarries and other concerns

        2. 27.Collection of outstanding Schedule A tax

        3. 28.Amendments as to Schedule B

        4. 29.Cases I and II of Schedule D: amendments in relation to land

        5. 30.Supplemental provisions as to annual value

        6. 31.Deductions in respect of tithe redemption annuities

        7. 32.Interpretation of Chapter II

    3. Chapter III Capital Allowances

      1. 33.Increase of investment allowances

      2. 34.Doubling of annual allowances for industrial buildings and for dredging

      3. 35.Rates of annual allowances for machinery and plant

      4. 36.Scientific research allowances

      5. 37.Annual allowances for mineral depletion in the United Kingdom

      6. 38.Annual allowances for new machinery and plant in development districts

      7. 39.Annual allowances for new mining expenditure in development districts

      8. 40.Contributions to expenditure for treatment of trade effluents

      9. 41.Motor cars: amendments as to capital allowances and deductions for hiring

      10. 42.Supplemental provisions as to Chapter III

    4. Chapter IV Miscellaneous

      1. 43.Co-operative housing associations

      2. 44.Exemption from tax on housing grants

      3. 45.Overseas Trade Corporations: holding companies

      4. 46.Amendment of s. 130 of Act of 1952 (cessations)

      5. 47.Accommodation occupied by holder of office or employment

      6. 48.Dealers in land: provisions as to purchase and sale of woodlands

      7. 49.India, Pakistan and Burma pensions

      8. 50.Certificates of deduction of tax

      9. 51.Deduction of tax from certain dividend payments

  4. Part III Estate Duty

    1. 52.Extension of exemption for small estates

    2. 53.Gifts in consideration of marriage

    3. 54.Exemption for gifts of land of outstanding scenic, historic or scientific interest

  5. Part IV Stamp Duties

    1. Reduction of duties

      1. 55.Reduced duty on conveyance or transfer on sale

      2. 56.Reduced duty on leases

      3. 57.Miscellaneous reductions

      4. 58.Transitional provisions relating to reduction of duty

    2. Bearer Instruments

      1. 59.Stamp duty on bearer instruments

      2. 60.Payment of duty

      3. 61.Ascertainment of market value

    3. Miscellaneous

      1. 62.Commonwealth stock

      2. 63.Securities for annual and other payments

      3. 64.Gifts in consideration of marriage

      4. 65.Miscellaneous exemptions

      5. 66.Composition for stamp duty on local authorities' securities

      6. 67.Prohibition of circulation of blank transfers

  6. Part V Miscellaneous

    1. 68.Abolition of land tax

    2. 69.Profits tax provisions in connection with Part II of this Act

    3. 70.Exchequer advances under Finance Act 1956, s. 42

    4. 71.Further provision for bearer bonds in respect of government securities

    5. 72.Redemption of guaranteed land stock

    6. 73.Short title, commencement, construction, extent, amendments and repeals

    1. Schedule 1

      Amendments to Finance Act 1962 as respects Customs Duties on E.F.T.A. Goods

    2. Schedule 2

      Brewers' Licences: Consequential Amendments of Act of 1952

      1. 1.(1) Section 125 of the Act of 1952 shall be...

      2. 2.(1) Section 131 of the Act of 1952 shall be...

      3. 3.In section 134 of the Act of 1952, in subsection...

      4. 4.In section 307(1) of the Act of 1952, in the...

      5. 5.In Schedule 2 to the Act of 1952, Part II...

    3. Schedule 3

      Relief for National Insurance Contributions: Descriptions of Contributors and Amounts for Relief

    4. Schedule 4

      Deductions from Rents and other Receipts from Land

      1. Deductions from rents: general rules

        1. 1.The deductions which may be made from rent to which...

        2. 2.Subject to the provisions of this Schedule, from rent to...

        3. 3.(1) In the case of a lease at a full...

        4. 4.Subject to the provisions of this Schedule, in the case...

        5. 5.Where by reason of any change of circumstances a lease...

        6. 6.Where the person chargeable retains possession of a part of...

      2. Deductions from rents: land managed as one estate

        1. 7.(1) Where this paragraph applies to an estate for a...

      3. Deductions from rents: premiums etc.

        1. 8.(1) Where in relation to any premises—

        2. 9.(1) Where in relation to any premises tax has or...

        3. 10.(1) Where the amount chargeable on the superior interest arose...

      4. Deductions from rents: payments made before 1964-65

        1. 11.(1) Except as provided by this and the following paragraph,...

        2. 12.(1) If, in respect of any payment such as is...

      5. Deductions from other receipts

        1. 13.(1) Subject to the provisions of this Schedule, where the...

        2. 14.No payment shall be deductible under the foregoing paragraph if...

        3. 15.(1) Where the person entitled to possession of any land...

      6. Expenditure on sea walls

        1. 16.(1) Where in any year of assessment the owner or...

      7. Supplemental

        1. 17.(1) Subject to the provisions of this paragraph, where a...

        2. 18.This Schedule has effect subject to the provisions of sections...

        3. 19.In this Schedule references to a lease extend only to...

    5. Schedule 5

      Ascertainment of Annual Value

      1. 1.The annual value shall be taken to be the rent...

      2. 2.Section 6 of the Rating and Valuation Act 1961 (adjustment...

    6. Schedule 6

      Relief where Premium, etc. treated as Rent

      1. 1.The relief shall be computed in accordance with the following...

      2. 2.There shall be computed— (a) the amount of the tax...

      3. 3.(1) Where the relief is to be given in respect...

      4. 4.A provision of paragraph 2 or 3 of this Schedule...

      5. 5.A provision of paragraph 2 or 3 of this Schedule...

      6. 6.(1) Sections 224 and 227 of the Act of 1952...

      7. 7.For the purposes of any provision of the Income Tax...

    7. Schedule 7

      Mining, Quarrying, etc. Concerns

      1. 1.Mines and quarries (including gravel pits, sand pits and brickfields)....

      2. 2.Ironworks, gasworks, salt springs or works, alum mines or works...

      3. 3.Canals, inland navigations, docks, and drains or levels.

      4. 4.Fishings.

      5. 5.Rights of markets and fairs, tolls, bridges and ferries.

      6. 6.Railways and other ways.

      7. 7.Other concerns of the like nature as any of the...

    8. Schedule 8

      Transitional Allowances for Annual Value of Trade Premises

      1. 1.Subject to the provisions of this Schedule, an allowance under...

      2. 2.The amount of the allowance shall be the excess of—...

      3. 3.The allowance shall be made by— (a) treating the amount...

      4. 4.The said period is that ending when the land permanently...

      5. 5.No allowance shall be made under this Schedule where the...

      6. 6.Where there is a change in the persons carrying on...

      7. 7.Where, by reason of a change in the persons carrying...

      8. 8.The foregoing provisions of this Schedule shall apply in relation...

    9. Schedule 9

      Allowance of Trading Deduction where Premium etc. Paid

      1. 1.In this Schedule:— " the amount chargeable " means the...

      2. 2.Subject to the provisions of this Schedule, where during any...

      3. 3.As respects any period during which a part only of...

      4. 4.Where a person, although not in occupation of the said...

      5. 5.Where, in respect of expenditure on the acquisition of his...

      6. 6.Where the amount chargeable arose under section 22(2) of this...

      7. 7.Where the amount chargeable arose under section 24 of this...

    10. Schedule 10

      Provisions as to Claims under Section 43

      1. 1.A claim under section 43 of this Act shall be...

      2. 2.(1) No such claim shall have effect unless it is...

      3. 3.Any such claim shall be in such form and contain...

    11. Schedule 11

      Stamp Duty Tables

      1. Part I Ad Valorem Duty on Conveyance or Transfer on Sale

      2. Part II Revised table of stamp duties on leases (paragraph (3) of heading)

    12. Schedule 12

      Amendments Arising from Chapter II of Part II of this Act

      1. Part I Amendments of the Income Tax Acts

        1. The War Damage (Public Utility Undertakings, &c.) Act 1949 (12, 13 & 14 Geo. 6. c. 36)

          1. 1.In section 28(2), the following shall be substituted for paragraph...

        2. The Income Tax Act 1952 (15 & 16 Geo. 6. & 1 Eliz. 2. c. 10)

          1. 2.In subsections (1) and (4) of section 34 and in...

          2. 3.In section 123(1), in paragraph (a) of Case III, after...

          3. 4.In section 153, in subsection (1), for the words "...

          4. 5.(1) At the end of section 162(4) there shall be...

          5. 6.In section 169, the following subsections shall be inserted at...

          6. 7.In section 170, the following subsection shall be inserted at...

          7. 8.In subsections (1) and (2) of section 180, for the...

          8. 9.In section 262, in subsection (5), for the words "...

          9. 10.In section 270(6)(a), for the words " Schedule A "...

          10. 11.(1) Section 313 shall be amended as provided by the...

          11. 12.In section 315, in the definitions of "agricultural income" and...

          12. 13.In section 345(2), the following paragraph shall be inserted at...

          13. 14.In section 425(3) for the words from " as to...

          14. 15.In section 451(1), for the words from "Schedule A in...

          15. 16.In Schedule 23, in Part I, in paragraph 1, for...

        3. The Finance Act 1952 (15 & 16 Geo. 6. & 1 Eliz. 2. c. 33)

          1. 17.(1) Section 26 shall be amended as provided by the...

        4. The Finance Act 1960 (8 & 9 Eliz. 2. c. 44)

          1. 18.(1) Section 72 shall be amended as provided by the...

        5. The Finance Act 1961 (9 & 10 Eliz. 2. c. 36)

          1. 19.(1) In section 20(1) for the words from " paragraph...

        6. The Finance Act 1962 (10 & 11 Eliz. 2. c. 44)

          1. 20.In Schedule 9, in paragraph 17(3)— (a) for the words...

      2. Part II Miscellaneous Amendments

        1. The Land Drainage Act 1930 (20 & 21 Geo. 5. c. 44)

          1. 21.(1) Section 29 shall be amended as provided by the...

        2. The Tithe Act 1936 (26 Geo. 5. & 1 Edw. 8. c. 43)

          1. 22.The following section shall be inserted after section 14— Reduction...

        3. The Drainage Rates Act 1958 (6 & 7 Eliz. 2. c. 37)

          1. 23.(1) In section 1(1), for the words " is made...

        4. The Land Drainage Act 1961 (9 & 10 Eliz. 2. c. 48)

          1. 24.(1) Section 7 shall be amended in accordance with the...

    13. Schedule 13

      Repeals arising from Chapter II of Part II of this Act

      1. Part I Income Tax Repeals

      2. Part II Profits Tax Repeals

      3. Part III Estate Duty Repeals

      4. Part IV Other Repeals

    14. Schedule 14

      General Repeals

      1. Part I Customs and Excise Repeals

        1. 1.The repeal of section 2 of the Finance Act 1957...

        2. 2.Section 38(2) of the Interpretation Act 1889 shall apply to...

      2. Part II Income Tax Repeals

      3. Part III Repeal Relating to Estate Duty

      4. Part IV Stamp Duty Repeals

      5. Part V Land Tax Redemption Repeals

      6. Part VI Other Land Tax Repeals

      7. Part VII Irish Land Purchase Repeals

      8. Part VIII Miscellaneous Repeals

        1. Table of Statutes referred to in this Act

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